Binance, WazirX Crypto Exchanges Launch $50 Million ‘Blockchain for India’ Fund For DLT Startups

2020-3-17 16:59

Binance and WazirX have announced $50 million in funding for distributed ledger Initiatives that will be geared towards Blockchain startups in India. This was shortly after Supreme Court overturned a cryptocurrency ban by Reserve Bank of India. Those that stand to benefit from the fund will have an all-access pass to Binance’s extensive arsenal.

Reports have emerged that Binance with Mumbai based crypto exchange, WazirX, has committed close to $50 million in funding for their Blockchain for India Initiative. The main objective of the initiative would be to invest in India based Blockchain startups that are in the crypto space.

The Blockchain by India fund has been backed by BNB, BUSD, and WRX. The fund will prioritize solutions in Fiat to Digital Assets Gateways, digital wallets, payment and remittance solutions, stablecoins and Dapps according to WazirX.

The fund will allocate its investments in tokens and equity varying from $100,000 up to $5 million. According to Binance’s announcement, the fund is also set to offer mentorships to interested university students that are keen to break into crypto space. Participants will be allowed access to Binance’s impressive ecosystem that boasts of Binance Chain, Binance Cloud, Binance DEX, Binance Launchpad, Binance Research, Binance Academy amongst other companies that Binance has acquired over time.

Supreme court decision

The move comes shortly after the Supreme Court paved the way by striking down the Reserve’s bank of India banking ban about a week ago. The ban had hindered financial institutions from providing banking services to crypto institutions. Since then, some crypto exchanges including Mumbai based, CoinDCX have integrated banking services into their ecosystems.

WazirX & Binance Collaboration

In 2019 November 2019 WazirX was acquired by Binance which is arguably the world’s largest crypto exchange. The strategic acquisition was seen as an attempt by Binance to increase its reach in the Indian crypto space.

WazirX CEO and founder Nischal Shetty is confident that the fund would help the Indian crypto ecosystem that boasts of untapped software engineering prowess thrive. He also cited that the fund would also want to increase their scope to reel in other investment funds to boost ecosystem growth.

“India has the biggest tech talent pool in the world. Apart from funding transformative Blockchain projects in India we look forward to collaborating with other investment funds.”

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

High Performance Blockchain (HPB) íà Currencies.ru

$ 0.0100291 (+7.61%)
Îáúåì 24H $25.057k
Èçìåíåèÿ 24h: 5.20 %, 7d: 30.40 %
Cåãîäíÿ L: $0.0090557 - H: $0.0100291
Êàïèòàëèçàöèÿ $732.823k Rank 1812
Öåíà â ÷àñ íîâîñòè $ 0.0612433 (-83.62%)

blockchain india crypto binance based fund initiative

Èñòî÷íèê: bitcoinexchangeguide.com

blockchain india → Ðåçóëüòàòîâ: 126


Ôîòî:

Public Sector Driving Blockchain Adoption in India

In India, the government is playing a key role as a consumer of blockchain solutions and in driving mass adoption of the technology. Nearly half of the states in India have initiated blockchain projects to address different challenges of citizen service delivery, with the government of Telangana and the government of Andhra Pradesh emerging as […] The post Public Sector Driving Blockchain Adoption in India appeared first on Coinjournal.

2019-3-13 01:52


Ôîòî:

Study Reveals Number of Blockchain Developers in India Second only to the USA

A market analysis revealing the number blockchain developers worldwide has placed India in second place to the United States, beating the UK, Canada, and France. According to the results published and procured by UK-based blockchain consulting firm Dappros, it is estimated that there are a total of 12,509 developers in India who work with Ethereum (2,381), Solidity (1,432), Blockchain (19,627).

2018-11-20 18:00


Malaysian Crypto Company Belfrics Group Resumes Their Digital Currency Exchange in India

Belfrics Group, a Malaysia-based crypto exchange, will resume its operations in India after a six-month hiatus. The company shut down its digital currency exchange earlier this year before the Reserve Bank of India officially announced a ban on banking companies, payment companies, and NBFCs supporting with crypto entities.

2018-6-27 16:35


Ôîòî:

Crypto Exchange Rougeies Trading Banks and RPIs in India

Exchanges Cryptocurrency exchange Belfrics has resumed trading operations in India after halting earlier this year due to banks refusing to provide payments solutions to the exchange. Japan Confirms Entrance Into the Crypto Space Belfrics Resumes Trading Operations in India Belfrics, which claims to be “India’s fastest growing cryptocurrency exchange and blockchain development platforms,” announced on

2018-6-27 08:25


Indian Exchange ZebPay Stops Allowing Rupee Withdrawals; Broader Indian Crypto Ecosystem Under Pressure

One of the largest crypto exchanges in India, ZebPay, announced that as of June 22, it could be stopping all withdrawals to fiat in Indian Rupee from its platform. This comes on the back of an April 5 declaration by the Indian government that all banks must stop acting as intermediaries between exchanges and their […] Indian Exchange ZebPay Stops Allowing Rupee Withdrawals; Broader Indian Crypto Ecosystem Under Pressure was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-6-23 14:28


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

BNB sets the stage to breakout above $580: When will it happen?

BNB’s price action remained less volatile over the last seven days.  Most metrics looked bullish on BNB, but a few suggested otherwise.  Binance Coin's [BNB] momentum declined over the The post BNB sets the stage to breakout above $580: When will it happen? appeared first on AMBCrypto.

ONDO 20% rise vs BNB's 1% drop: Which token is your best bet?

ONDO’s price has risen by double digits in the last week, while BNB’s value has dropped. ONDO is well primed to continue on its uptrend, while BNB remains at the mercy of the bears.  ONThe post ONDO 20% rise vs BNB's 1% drop: Which token is your best bet? appeared first on AMBCrypto.

Binance Coin's next big price hike and why it depends on this 'triangle'

BNB was trading above the support line of its symmetrical triangle pattern BNB remains at risk of a decline as its funding rate was negative The recent market rally has caused Binance Coin [The post Binance Coin's next big price hike and why it depends on this 'triangle' appeared first on AMBCrypto.

Taking a closer look at BNB's stable performance in a rocky week

BNB saw less decline in the last seven days. BNB remained below zero in funding rate. Assets within the top five of the crypto market capitalization experienced declines over the past seven The post Taking a closer look at BNB's stable performance in a rocky week appeared first on AMBCrypto.

BNB Chain DEX volume surges - Examining what it means for BNB's price

The increase showed that attention was shifting back to the chain. BNB's price might fall to $580 despite the rise in TVL. For the first time since the 2nd of May, BNB Chain's DEX trading voThe post BNB Chain DEX volume surges - Examining what it means for BNB's price appeared first on AMBCrypto.

Inside Binance and DWF's alleged market manipulation saga - What's going on?

DWF reportedly made over $300 million from market manipulation at Binance Binance allegedly fired an employee who flagged DWF's shady tactics  One of the largest crypto-market makers, DWF, The post Inside Binance and DWF's alleged market manipulation saga - What's going on? appeared first on AMBCrypto.

BNB wishes to cross $600, but why the altcoin can drop to $550 instead

A bullish invalidation could cause BNB to drop to $561. Funding Rate and sentiment were negative, suggesting a bearish bias. Binance [BNB] might attempt to break out according to the 4-hour The post BNB wishes to cross $600, but why the altcoin can drop to $550 instead appeared first on AMBCrypto.